Raymond James Increases Atmel Price Target to $11.00 (ATML)
Research analysts at Raymond James hoisted their target price on shares of Atmel (NASDAQ:ATML) from $8.50 to $11.00 in a report released on Wednesday. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 20.35% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of Atmel to $10.00 in a research note on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Atmel from $10.00 to $11.00 in a research note on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Feltl & Co. downgraded shares of Atmel from a “buy” rating to a “hold” rating in a research note on Monday, June 23rd. They now have a $8.50 price target on the stock, down previously from $9.00. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.41.
Shares of Atmel (NASDAQ:ATML) traded up 0.88% during mid-day trading on Wednesday, hitting $9.14. 4,346,397 shares of the company’s stock traded hands. Atmel has a 1-year low of $6.45 and a 1-year high of $9.76. The stock has a 50-day moving average of $8.89 and a 200-day moving average of $8.30. The company has a market cap of $3.848 billion and a price-to-earnings ratio of 139.38. Atmel also saw some unusual options trading on Monday. Traders bought 13,132 call options on the stock. This is an increase of approximately 249% compared to the typical daily volume of 3,767 call options.
Atmel (NASDAQ:ATML) last announced its earnings results on Wednesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.01. The company had revenue of $337.40 million for the quarter, compared to the consensus estimate of $325.70 million. On average, analysts predict that Atmel will post $0.44 earnings per share for the current fiscal year.
Atmel Corporation (NASDAQ:ATML) is engaged in designing, developing and supplying of microcontrollers.
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